Balenciaga Owner PPR Invests in Christopher Kane

Christopher Kane, who parted ways with Donatella Versace's youthful line Versus in November, has a new partner that was announced last night. Luxury conglomerate PPR—which counts such brands as Alexander McQueen, Stella McCartney, and Balenciaga in its portfolio—has acquired a 51 percent stake in Kane's label.

"Christopher Kane...has a tremendous intrinsic growth potential," François-Henri Pinault, chairman and CEO of PPR, commented in a press release. "We thus have great ambitions for the brand and will enable it to benefit from our expertise and know-how while providing the space for it to further develop its own creative identity."

Kane himself, meanwhile, noted: "We are very excited and honored to be partnering with PPR for the next stage of development for our brand. PPR has an incredible reputation for building some of the very best luxury brands in the world. They respect our creative vision, and they have the expertise and experience to help us build the Christopher Kane brand globally."

But that's not all: According to WWD, plans are already underway to open Kane's first boutique (likely in London, in 2014), launch a second ready-to-wear collection, build up the brand's e-commerce presence, and expand further into footwear and leather goods.